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King, the other Big House, contingency planning

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Proceedings against Dave King for Contempt of Court begin on Friday at the Court of Session.  In March, King was ordered to offer £11m for shares not already owned by his concert party, no later than 26 April.  Nearly three months later, that instruction has not been complied with.

Well in advance of the Court decision to force King to comply with the Takeover Panel instruction to offer to buy non-concert party shares, King would have been advised what requirements he would need to comply with, if he lost.  Prudent contingency planning would have averted this Contempt hearing.  But you know King.  He sat on the Rangers board which made no contingency plans to allow it to continue to trading through HMRC’s case against the club.  The consequences of that were so severe it went into liquidation BEFORE it lost the case!!

Indeed, before starting a takeover bid for Newco, King would have been well advised to have the money in place to underwrite the project.  Remember, he once suggested a £50m would be needed, this is ‘only’ £11m.  If he cannot lodge this £11m he has no chance of making good money to build the team.

During the takeover Panel’s case against King last year, King’s QC told the court “Any order wouldn’t secure compliance”.  Quite an insightful prediction.

If found guilty, these proceedings could see King reside for a while in Glasgow’s other ‘Big House’.  Even if that happens, it will be a mere blip on the ‘journey’, prepare to read that is is a ‘favourable settlement’.  The question to keep your eye on, is who will pay the bills after the season ticket money runs out?  Never mind, there will be orange strips, reduced ticket allocation to Celtic, angry statements about the SPFL and SFA, so they must be good guys.

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  1. Delaneys Dunky on

    Ron Bacardi

     

     

    Was it called International? Gallacher wi a C for Catholic is how his name was spelt. ??

  2. Taking a walk through CQN recently I see reason and passion duel as if one had supremacy over the other.

     

    Both have their place of course, they are both passengers on the chariot of soul.

     

    Some posts raise passions, others reason.

     

    So I had a look at what Gibran might say and found this.

     

     

    Reason And Passion

     

     

     

    And the priestess spoke again and said: “Speak to us of Reason and Passion.”

     

     

    And he answered saying:

     

     

    Your soul is oftentimes a battlefield, upon which your reason and your judgment wage war against passion and your appetite.

     

     

    Would that I could be the peacemaker in your soul, that I might turn the discord and the rivalry of your elements into oneness and melody.

     

     

    But how shall I, unless you yourselves be also the peacemakers, nay, the lovers of all your elements?

     

     

    Your reason and your passion are the rudder and the sails of your seafaring soul.

     

     

    If either your sails or our rudder be broken, you can but toss and drift, or else be held at a standstill in mid-seas.

     

     

    For reason, ruling alone, is a force confining; and passion, unattended, is a flame that burns to its own destruction.

     

     

    Therefore let your soul exalt your reason to the height of passion; that it may sing;

     

     

    And let it direct your passion with reason, that your passion may live through its own daily resurrection, and like the phoenix rise above its own ashes.

     

     

    I would have you consider your judgment and your appetite even as you would two loved guests in your house.

     

     

    Surely you would not honour one guest above the other; for he who is more mindful of one loses the love and the faith of both.

     

     

    Among the hills, when you sit in the cool shade of the white poplars, sharing the peace and serenity of distant fields and meadows – then let your heart say in silence, “God rests in reason.”

     

     

    And when the storm comes, and the mighty wind shakes the forest, and thunder and lightning proclaim the majesty of the sky, – then let your heart say in awe, “God moves in passion.”

     

     

    And since you are a breath In God’s sphere, and a leaf in God’s forest, you too should rest in reason and move in passion.

     

     

    (Now whatever else you might think or feel about this post, or whatever judgement it might lead you to on myself and/ or my motives for posting it, the one thing for sure is

     

     

     

    you won’t find anything like it on Follow Follow. :)

  3. Timbhoy2 has every right to post what he wants provided it doesn’t break the rules – not sure what the problem is

     

    Ignoring posters is always a choice – I know

  4. thomthethim for Oscar OK on

    TURKEYBHOY on 17TH JULY 2018 8:51 PM

     

     

    I was just remarking to a good friend of mine, that if Sevco’s opponents tonight ever reach pub team level, then that pub would lose it’s licence.

  5. thomthethim for Oscar OK on

    AULDHEID on 17TH JULY 2018 9:05 PM

     

     

    I was just thinking the same myself!

     

    However Gibran said it better. : > )

  6. Delaneys Dunky on

    TTT

     

    My son said tonight that watching the hun game in Macedonia tonight was like watching two Sunday morning teams who had been to the dancin’ till 4 on Sunday morning before their match.

  7. DELANEY

     

     

    You are correct, it was indeed The International, but known by many Bankies as Gallachers.

  8. Delaneys Dunky on

    Hearing our ‘hero’, Alfredo Morelos had another cocaine comedown type of game. When are the SFA going to drug test in the SPFL? Pena, Morelos and the new Livvy player manager all love a sniff sniff.

  9. What is the Stars on

    Gerard revolution is full steam ahead.

     

    55 is coming Timmy.

     

    Stevie Gee is da man

  10. thomthethim for Oscar OK on

    DELANEYS DUNKY on 17TH JULY 2018 9:17 PM

     

    TTT

     

     

     

     

    My son said tonight that watching the hun game in Macedonia tonight was like watching two Sunday morning teams who had been to the dancin’ till 4 on Sunday morning before their match

     

     

    *****

     

    Yep, that just about sums it up. Your boy knows his fitba’.

  11. i am glad wee johnson is staying for now, he looks a player to me and will get better with training and games. we have plenty of games where his direct style will be a great asset.

     

     

    The development at the stadium was needed and with any luck it will improve further over the years. Neglecting the stadium and envios is not an option if celtic want to grow.

     

     

    The club will benefit greatly from it, rather that the board or the supporters.

     

     

    every business gets money from customers to grow so dont understand why this is used to question the board. We the supporters are the customers.

     

     

    Could do better should be printed on the boardroom wall to drive improvement and we should always question their action and in action.

     

     

    HH

  12. Delaneys Dunky on

    Ron Bacardi

     

    My grandad, dad and uncles spent a fair bit of their wages in Patsy Gallacher’s International pub in Clydebank. Was it a male only bar? Remember being told that when I was a wean.

  13. Delaneys Dunky on 17th July 2018 9:24 pm

     

     

    Moreloss isnt all he’s cracked up to be.

  14. Delaneys Dunky on

    TTT

     

    My son has sat beside me in Paradise for 22 of his 25 years. Everything he learnt about fitba was from the Tims around us. Great to see you posting again.

     

    YNWA

  15. Mike in Toronto,

     

    I welcome your comments. My comments were how well the Board has put Celtic in a sound financial position that has taken many years to build up. Very few clubs in U.K. have a wealthy Balance Sheet. Nice to see you acknowledge this. The development and structures in place will ensure they are in good standing when any downturn in economy hits. Many large clubs will not survive next time and it may put Celtic in a better position to be invited to a better league.

     

     

    Your concerns re. the Board making a stand would also resonate with me, including Tonev case.. However, my observation is this is a long game. Let them continue to make mistakes and hopefully, lack of cash flow will destroy them.

     

     

    As a legal person, and bearing in mind that you are taking on a country that has institutional bigotry in place. I would like to ask you for a few comments on events over say the last 5 years.

     

     

    How was Campbell Ogilvie allowed to hold Rangers shares when Managing Director of Hearts?

     

    How was he then appointed President of the SFA with his EBTs and the role he played?

     

    How was Rangers FC when liquidated, allowed to transfer all its assets to a new company and ignore all the rules of Bankruptcy & Executorship, where creditors would have availed of a divd including HMRC?

     

    How did Neil Lennon’s attacker at Tynecastle (tv live pictures) not go to jail?

     

    Would you have won any of the above for your clients.

     

     

    Celtic were on a hammering to nothing and the financial support for the dead team would have increased dramatically. I believe the strategy, “to keep your powder dry” was the only way. You only have to look at how they responded to the conflict of interests with the Scottish Professional Football League and the resignations.

     

     

    As already mentioned, I would have liked to the club to challenge, but it ultimately may have resulted in seriously damaging our unique football club. Certainly share price would fall, sponsors etc. may be lost. I am sure the majority of Celtic fans know what we are taking on and we would not win in the country where they play their football.

     

     

    Enjoy your posts, wonder where you get the time.

     

     

    TTT mentioned about Belfast Celtic. They were the victims and they don’t exist.

     

     

    KTF

     

    Cathach

  16. Thanks to the couple of my fellow supporters,not for sticking up for me,but I maybe rub up a few on here,but there is one thing for sure I’m a Tim, never a Hun

  17. weebobbycollins on

    Timbhoy2…I believe you are not a hun…..but yer number’s still up , so, come in… :-)

  18. Delaneys Dunky on

    Celtarella

     

    Mr Big fae Clydebank, supplies Colombian powder to the rich kids in Bearsden and Milngavie. His profits took a dip when Pena left Bearsden to relocate to Mexico. The nasal hoover Alfie is now his best customer. Every fitba player and their dugs on the street know this. Why no random drug testing by SFA?

  19. I really do not know how ,relatively , good or bad are the Huns but I do suspect that wishful thinking is a possible contributor to the opinion that they are dreadful.

     

    Does anyone really expect that they will be outside the top three or four in Scotland?

     

    Our achievements are diminished if we promote the idea that our opponents are dreadful.

     

    Celtic have worked hard to overcome committed opposition over the last two years.

     

    JJ

  20. JOE FILIPPIS HAIRCUT on 17TH JULY 2018 7:46 PM

     

     

    Scott Brown calls for other clubs to up there game in europe in order to improve European co- efficience.The Rangers get through there European tie and get completely slagged by some on CQN in my opinion there are to many on CQN who live just to slag the Rangers and are unable to see the bigger picture.

     

     

    *I lived the big picture and it included ebt’s eff them, no double and treble eff them and BTW it was sevco who got through the night deidco are deid.

  21. TIMBHOY2 on 17TH JULY 2018 9:46 PM

     

     

    Thanks to the couple of my fellow supporters,not for sticking up for me,but I maybe rub up a few on here,but there is one thing for sure I’m a Tim, never a Hun

     

     

    *well stop acting like one ffs

  22. Delaneys Dunky on

    Dumbhoy

     

     

    Wow. That is Clydebank when I was a wean. Will look at they photos all night and get goosebumps. Love the green white and gold corpy bus outside the green white and gold Clydebank Bar. Also the Seven Seas photo. That was an unofficial 24 hour a day pub in the 60s to serve the thousands of shipyard shift workers. Now Chandlers. All pubs photographed were Celtic pubs. Easy, nae huns pubs in Clydebank. ??

  23. TIMBHOY2:

     

    I have met TIMBHOY2, a few years back when he got a Celtic end ticket off me outside Tannadice when the tangerines were still in our league, never a hun.

     

    Keep the Faith!

     

    Hail Hail!

  24. Delaneys Dunky on 17th July 2018 9:50 pm

     

     

    Because it reminds them of Willie Johnston?

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